Grant took a pen, wrote a brief message with great rapidity, read it aloud to the persons who were assembled, and sent it in that very day without the change of a word.

It is a clear and excellent statement.

The result was that the Republican opposition to the measure in the House was withdrawn, the two Houses came to an agreement, and adjourned without day soon afterward.
One of the most important acts of President Grant's Administration was his veto of the Inflation Bill, which provided for a considerable increase of the large volume of legal tender paper money, which at that time was not redeemed by the government.

This veto is regarded by most persons as the turning of the corner by the American people, and setting the face of the Government toward specie payment and honest money.

It was during the hard times that followed the crisis of 1873.